Larry Robbins' hedge fund firm Glenview Capital has filed a Form 4 with the SEC regarding its stake in Tenet Healthcare (THC). Per the filing, Glenview now owns over 14.79 million shares.
The Form 4 notes that Glenview was out buying 979,482 shares on June 25th at weighted average prices of $54.3028, $54.9934, and $55.924. This is right around when the Supreme Court decision reaffirmed Obamacare subsidies and hospital stocks rocketed higher.
This has been a longstanding play for Glenview, and a highly successful one at that. This was part of their basket of for-profit hospital stocks that they wagered would benefit from the Affordable Care Act (ACA). THC has been their biggest play in the space.
We've also detailed some other portfolio activity from Glenview earlier this week.
Per Google Finance, Tenet Healthcare is "a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets."
Tuesday, June 30, 2015
Glenview Capital Adds To Tenet Healthcare Position
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